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Issue 67 JUL 2015 Pension Bubble Brewing? ě ¢ǰ Spain’s Economy on an Upswing?   4 Things You’re Doing Wrong in business   ђѥѐљѢѠіѣђ іћѡђџѣіђѤ Ѥіѡѕ WOLFIE’S PRIVATE INVESTIGATOR bo dietl

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Issue 67 JUL 2015

Pension Bubble Brewing? ����ȱ����ȱ������ȱ�ě���ȱ����ȱ����¢ǰȱ�����ȱ���

Spain’s Economy on an Upswing? ���������ȱ������ȱ����ȱ��ȱ���������ȱ�� �

4 Things You’re Doing Wrong in business ����������ȱ��������ȱ ���ȱ�������ȱ

ђѥѐљѢѠіѣђȱіћѡђџѣіђѤȱѤіѡѕȱ

WOLFIE’S PRIVATE INVESTIGATOR

bo dietl

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THE SUIT MAGAZINE - JULY 2015

яѦȱюњѦȱњǯȱюџњѠѡџќћє

ȃ��ȱ���ȱ����ȱ����ǰȱ���ȱ�ȱ�����ȱ����ȱ��ȱ�ȱ�����ȱ������¢ǰȱ ����ȱ���ȱ����¢ȱ��ȱ�ȱę����ȱ��������ǰȱ��������ȱit as all they have” Pippins said. “And men see it a renewable resource, which can always be replen-ished.”����ȱ ��¢����������ȱ ������ȱ ��ȱ ����ȱ �������ȱ �������ȱ ���ȱ ���ȱ ��ȱ ���ȱ ę��ǯȱ��� ���ȱ ��ȱ ���ȱ ����-

ground as a strategic consultant for Fortune 500 executives, Pippins provides comprehensive and �����������£��ȱę�������ȱ������������ȱ���ȱ��������ȱ���ȱ���ȱ�������ǯȱȱ

“I work best with successful women and what I call ‘loving couples,’” Pippins said. “What I mean �¢ȱȁ������ȱ�������Ȃȱ��ȱ����ȱ���ȱ�������ȱ��ȱ�����ę����ȱ�����ȱ�������£��ȱ���ȱ������¢ȱ����ȱ��ȱ��ȱ�������¢ȱ�����ȱ��ȱ����������ȱ���ȱ ���ǰȱ���ȱ��ȱ ����ȱ�ȱę�������ȱ������������ȱ��ȱ�����ȱ����¢ȱ���ȱ����ȱ��ȱ����ȱ���ȱ��ȱ������ȱ���ȱ���ȱ�ȱ�������ȱ�������ȱ��ȱ����ȱ ���ȱ ��ȱ��ȱ���ȱ����ȱ����ȱ��ȱę�������ȱ������ȱ���ȱ ���ȱ����ȱ����ȱ��ȱ���ȱę�������ȱ�����ȱ ���ȱ��ȱ��ȱ������ȱ���ǯȄ

Pippins states that approximately 70 percent of widows replace the family investment advisor after the husband dies because the previously chosen advisor either won’t “speak English” to them about ę�������ȱ��Ĵ���ȱ��ȱ��ȱ���������¢ȱ�������������ȱ��ȱ������ȱ��ȱ���ȱ�����ǯ

To Women Money is a Pond; it is not a River

����ȱ �����Ĵ�ȱ �������ǰȱ �������ȱ ���ȱ ���������ȱ ��ȱ���������ȱ ������ȱ ����������ǰȱ ��¢�ȱ ����ȱ  ����ȱ����ȱ��ȱ��� ȱ����¢ȱ��ȱ�ȱ����ǰȱ ����ȱ���ȱ���ȱ��ȱ��ȱ�ȱ�����ǯȱ����ȱ�����ȱ���Ȃ�ȱ����ȱ��ȱ�����ȱ��ȱ������ǰȱ���ȱ��ȱ���¢ȱ��ǰȱ���¢ȱ��������¢ȱ���Ȃ�ȱ����ȱ�ȱ������ǰȱ�����ȱĚ� ȱ����������ȱ ���ȱ����ǯȱ������ǰȱ��ȱ���ȱ�����ȱ����ǰȱ���ȱ����ȱ���ȱ�����ȱ��ȱ���������¢ȱ����ȱ�� ȱ������ȱ��-������ȱ���ȱ�������ȱ����ȱ�����ȱ�������ȱĚ� ���ȱ��ǯȱ

����ȱ�����Ĵ�ȱ�������ǰȱFounder and President of Riverside Wealth Management

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THE SUIT MAGAZINE p.55

That’s why Pippins opts to actively engage wives and ���ȱ ������ȱ �����ę����ȱ ������ȱ������ȱ �¢ȱ ���ȱ ę��ǯȱ ȱ ȃ��ȱ ��-en, we don’t think we are smart enough. Even successful wom-��ȱ ��ȱ ���Ȭę�������ȱ �������ȱtend to be investment phobic  ���ȱ��ȱ�����ȱ��ȱ�����ȱę�������ȱlife. These are highly success-ful, competent women, they sit on corporate and philanthrop-ic boards.” Pippins continues, “but when it comes to what I call the ‘big money decisions’ ���¢ȱ ����ȱ ���ę�����ȱ ���ȱ ���ȱtherefore afraid to make deci-sions. They feel like they have ��ȱ��ȱ�ȱę�������ȱ�¡����ȱ��ȱ����ȱchoices, so they don’t. This leads to making no decision, which is even worse.”

Pippins’ solution is to engage and educate her female clients. She wants to empower women with professional guidance, so ���¢ȱ���ȱ���ę����ȱ��ȱ�����ȱ����-sion-making because they truly comprehend the principles at work behind those decisions.

Most women don’t like to take risks with their money, which runs counter to the fact ����ȱ��ȱ����ȱ ��Ě�����ǰȱ����ȱ����ȱtolerance is necessary. “And yes, women have an enormous amount of learned emotions at-tached to money that men sim-ply do not share” Pippins adds.

That’s not necessarily a bad thing; it just is something that a ę�������ȱ�������ȱ�����ȱ��ȱ�����-nize and respect and then pro-vide a work-around solution. Part of that solution can be sto-ries.

“Women learn best from sto-ries,” Pippins said. “When there is an issue they need to take ac-tion on, I often use a story to get the concept across. When they

can learn vicariously through someone else’s experience as told in a story, they are much more ready to take action, be-cause they feel as if it could have happened to them directly and they say, ‘Wow, I need to get this taken care of.’”

Pippins prepares clients for the future by using her own ver-����ȱ ��ȱ �ȱ ȃę�������ȱ ę��ȱ �����ǯȄȱȱShe asks a series of “what if” questions to help clients deter-mine a response to a variety of scenarios. This assures deci-sions have been made logically and not during a time of height-ened emotions or a time of grieving. She insists on having �ȱ����ȱ��ȱ�����ȱȮȱ ��Ĵ��ǰȱ������ȱ����ȱ���ȱę������ȱ�ěȱ ���ȱ���-natures for each advisory rela-tionship.

This approach also helps with ��¢Ȭ��Ȭ��¢ȱ ę�������ȱ ������ǯȱȱPointing to a 2014 study con-ducted by Money Magazine in-dicating that 70 percent of a cou-���Ȃ�ȱę������ȱ��ȱ���ȱ��ȱę�������ȱ��Ĵ���ǰȱ�������ȱ����ȱ����ǰȱ ���ȱher clients, the comprehensive plan approach prevents much of that from happening.

“In that 70 percent, the bulk ��ȱ ���ȱ ę������ȱ �����ȱ ���ȱ ȁ���ȱmoney decisions’ such as how to save for retirement or how to invest assets or how the trust and estate documents should Ě� ǰȄȱ �������ȱ ������ǯȱ ȃ����ȱof it is about routine spending and household budgeting. We set up a spending plan and to take away those frivolous argu-�����ǯȱ�ȱ����ȱ���ȱ ���¢ȱ���ȱ��ȱę-nances for my clients by having �ȱ�������������ȱ ��Ĵ��ȱ����ȱ��ȱplace to help them feel in con-����ȱ��ȱ�����ȱę�������ȱ����ǯȄ

200 Harvard Mill Square, Suite 340

����ę���ǰȱ����������Ĵ�ȱŖŗŞŞŖwww.riversidewm.com

ȃ�����ȱ���ȱ����¢ȱ��ȱ�ȱę����ȱ��������ǰȄȱ�������ȱ����ǯȱȃ���ȱsee it a resource to which more can �� �¢�ȱ��ȱ�����ǯȄ

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